Use the Solar PV calculator below to see what your returns could be
If you are eligible to receive FIT's you will benefit in three ways :
- Generation tariff: your energy supplier will pay you a set rate for each unit (or kWh) of electricity you generate. Once your system has been registered, the tariff levels are guaranteed for the period of the tariff (up to 20 years) and are index-linked.
- Export tariff: you will get a further 4.5p/kWh (non-solar PV from 1 December 2012) from your energy supplier for each unit you export back to the electricity grid, so you can sell any electricity you generate but don't use yourself. This rate is the same for all technologies. At some stage smart meters will be installed to measure what you export, but until then it is estimated as being 50% of the electricity you generate (only systems above 30kWp need to have an export meter fitted, and a domestic system is unlikely to be that big).
- Energy bill savings: you will be making savings on your electricity bills because generating electricity to power your appliances means you don’t have to buy as much electricity from your energy supplier. The amount you save will vary depending how much of the electricity you use on site.
For solar PV:
- evidence of property’s EPC rating will be required when applying for FITs. If no evidence showing the EPC has a band D or higher then the lower rate will apply.
- the export tariff for solar PV is currently 4.5p/kWh
- the tariff period (lifetime) is now 20 years
- the tariffs are to be reviewed every three months and will be revised according to deployment rates.